Lululemon Athletica Inc (NASDAQ:LULU) is scheduled to report its quarterly results after the bell on Thursday. The company is expected reported revenues and earnings of $1.55 billion and $1.43 a share, versus the year-ago figures of $1.23 billion and $1.16 per share, respectively.
On CNBC's "Options Action," Tony Zhang said that the stock traded 2.7 times its average daily volume on Wednesday. The options market is implying a move of over 9% after the release of results, versus the average 6.8% over the last eight quarters, he added.
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There was a seller of 400 of the June 215/360 straddles at $3.14 per contract on average, Zhang mentioned. The trader sees shares of Lululemon Athletica trading between $212 and $363 by June expiration, he added.
